Godrej Appliances growing faster than industry

Kolkata, Mar 7: India's largest home appliances group, Godrej Appliances is eyeing a Rs 500-crore investment by the fiscal 2021-2022.

They are also going to expand their capacity by setting up a new manufacturing plant in Pune.

Godrej, which holds 5 per cent market share in air conditioners, is very keen to hike the number.

"Most of the components we use are largely imported. That is why we are setting up Pune unit", said business head of Godrej, Kamal Nandi on the sideline of an event launching their new range of air conditioners.

Godrej Appliances at present has manufacturing capacity of 40,000 units of air-conditioners. Godrej is eyeing Rs 6,000 crore sales by 2020-21 fiscal. This fiscal they supposed to be mark 4300 crore mark.

Nandi said, "Godrej is growing faster as compared to the industry growth rate. Now the industry is going by 7 per cent while we are having a 15 per cent growth and aiming to touch 20 per cent mark within next fiscal." (UNI)